Drilling of the first well in Uirapuru to accelerate

11/30/18

Drilling of the first well in Uirapuru to accelerate

The Petrobras / Petrogal / Equinor / ExxonMobil consortium intends to drill its first exploration well in the Uirapuru area, in the Santos Basin, until the end of 2019. The information was confirmed by the CEO of Galp in Brazil , Miguel Pereira.

Although the Uirapuru contract has not yet been signed – the ceremony is scheduled to take place on December 19 – the executive stressed that the consortium has already been discussing the work plan and that the intention is to start the drilling campaign next year , without an estimate for seismic data acquisition.

Petrogal’s goal is to increase its production in Brazil by 50%. The Portuguese oil company is producing around 100,000 barrels a day and the plan is to reach the 150,000 b / d mark in 2025, with the Lula, Iracema, Carcará and Sepia projects.

Petrogal’s CEO again reinforced the group’s interest in the Brazilian pre-salt, saying that the projects are economically viable with oil prices up to $ 25. The executive reiterated the company’s plan to take over the position of operator in Brazil in the mid-term.

Petrogal has already invested US $ 5 billion in Brazil.  Petrogal’s business plan foresees an annual disbursement of € 1 billion per year, of which 50% is to be allocated to Brazil.

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